For the first time since Malcolm Turnbull ousted Tony Abbott as Prime Minster of Australia, the Federal Government trails the opposition in the latest Newspoll.  This comes with a possible election looming as early as July.

Labor leads the Coalition  51 percent to 49 percent, according to the poll published by the Australian.  In addition, Malcolm's preferred prime minister rating dropped to 48 percent - 16 points lower than his personal best last November.  Labor leader Bill Shorten was rated better prime minister by 27 percent, but that's a six point leap in a fortnight.

The poll suggests that the voters are not happy with Mr. Turnbull's recent pitch to the state leaders at the Council of Australian Governments (COAG) meeting that would have states raising their own income taxes to bankroll services such as education.  Opposition to that scheme ran at 58 percent, while support futzed out at 19 percent. 

"The honeymoon that Malcolm Turnbull first enjoyed when he became leader was never going to last," said Labor Senator Sam Dastyari to the ABC.  "This is a bad government with bad policies that wants to do bad things and as a result it will be a very, very tight, close election."

Cabinet Minister Christopher Pyne told the ABC that he is about as far from panic mode as one can be:  "If you look at the poll between who people want, Malcolm Turnbull or Bill Shorten, Malcolm always leads Bill Shorten basically at two to one, at least two to one," said Mr. Pyne.

Prime Minister Turnbull has threatened to call a double dissolution election as soon as 2 July, if the Senate fails to pass a bill reinstating the Australian Building and Construction Commission.